1031: HERE’S THE WORST CASE SCENARIO FOR BITCOIN AND CRYPTO MARKETS, ACCORDING TO TOP ANALYST!!

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3.6 • 626 Ratings

🗓️ 29 August 2022

⏱️ 22 minutes

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Summary

Analyst Benjamin Cowen is detailing a potential worst case scenario for Bitcoin and the crypto markets at large. If this bearish cryptocurrency market structure plays out, the total market cap of all cryptocurrencies would finally reach a bottom at around the $500 billion mark, which suggest a Bitcoin price bottom of about $10,000 per BTC. “This is something to consider. It’s the worst case scenario. I have no idea if it’s going to play out or not, but it’s something that everyone I think should consider when navigating the cryptoverse." Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	In today's show, the U.S. dollar hits a new 20-year high. I'm going to be sharing with you the five things to watch out for in the Bitcoin market this week. Quoting crypto capo, much more people expecting 19,000 than those expecting 23,000. Fundance says it all. Also, there is a lot of juicy liquidity above 21K. Squeeze those shorts. And quoting Mark Cullen, yes, they keep adding more Bitcoin shorts in the area
0:21.3	between 20,100 and 20,300. There was a nice inefficiency above there and another at around 20,900 to 21,100.
0:30.0	If it can break up, it is likely to be a fast move higher. Also in today's show, Mount Gox creditors
0:35.9	dismissed rumors of massive Bitcoin dump.
0:38.5	Quoting Cryptoanalyst Mikal bin they pop breaking, Mount Cox will not be releasing the
0:42.6	Bitcoin and will delay the distribution. Once again, the entire crypto space was stressing
0:47.1	out heavily on this, but unwarranted, including Eric Wall, PSA, Mount Cox is not
0:52.3	distributing any coins this week or the next week or the week after
0:55.7	that. Source, I am a Mount Cox creditor. The repayment system is not live yet. Also in today's show,
1:01.6	global crypto adoption exceeds 320 million users according to a new study. And here's the country
1:06.6	leading the charge is the United States of America. But as far as continents, Asia is obviously
1:12.1	dominating with $130 million compared to North America at $51 million. Also in today's show,
1:17.9	The Future is here. Visa, MasterCard, and Binance are suddenly making Bitcoin, Ethereum, XRP,
1:23.2	Salana, Cardano, and Tether payments are reality. This is a pretty big deal. MasterCard is set to launch a
1:28.4	crypto payments card supporting these 14 cryptocurrencies, and MasterCard's plan to integrate
1:32.8	crypto could be an eye-opener for its competition like Visa, who may follow on MasterCard's
1:37.4	footsteps in order to lead the payments industry in this sector. Also in today's show, here is the
1:42.7	worst-case scenario for Bitcoin and the
1:44.6	crypto markets, according to crypto analysts Benjamin Cohen, who lays out the bearer scenario for
1:49.2	the crypto market predicting a $500 billion market cap, which would ultimately mean a $10,000 Bitcoin
1:55.8	price bottom, will also be taking a look at the overall crypto market. All this, plus so much more, in today's show.
2:06.6	Hey, what's good, crypto fam?
	...

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